One of the main challenges entrepreneurs face is gaining market acceptance or traction i.e. custom in sufficient volumes to transition to profitability. If they are not getting traction after one month of operations, entrepreneurs need to quickly assess what they need to do to fix matters. Increasingly this means they need to be extremely flexible [...]
{ 1 comment }
Have a great idea for something people want, but not sure how to make money from it? Consider the following business models: Freemium If what you’ve got is really great, give it away. No, seriously. Let them have a taste, build a relationship with them, and only then offer an upgraded paid experience. Maybe the [...]
{ 1 comment }
It’s a lot more expensive to get new customers than to keep the ones you have, so why not take advantage of that? Business models that create brand loyalty or have high switching costs help you keep the customers you get. Bait and Hook Ever noticed that you spend far more on razor blades than [...]
{ 1 comment }
So, maybe you’ve got some nifty new idea for generating value for your customers, or your company. Why bother writing it down, outlining it in detail, or even trying to explain it? 1. Your investors and lenders If you’re asking for money, you’d better be able to show how it will be used, how it [...]
{ 1 comment }
A business model is a description of how your business intends to operate and make money. Sounds simple, right? For most companies, the business model used to look like this: I buy X, add some value to it, and sell it as Y. If I sell it for more money than the cost of buying [...]
{ 0 comments }
I enjoyed Rafe Needleman’s post on CNET’s Webware blog last week, offering readers a vote on 11 business models for Twitter. Rafe makes a great point about business models — what they are, what they’re about. Business model, frankly, is not my favorite term. It became fashionable in the late 1990s, I think, because that [...]
{ 0 comments }
Subscribe via RSS
